RBA Rate Statement... Long

Australian Dollar/U.S. DollarFXCM

Description

⋅ Dec 5, 2017 3:01 AM

The AUD Cash Rate is not expected to yield much volatility, with anticipation for rates to remain at 1.50%

However, at current times, the tone of RBA statement accompanying the rate decision is now viewed as more important.

A hawkish tone from the RBA is likely to bring the AUD/USD up towards the 0.7730 level, supported by 0.7630.

While we anticipate a bullish move, it would still be prudent to read the statement first.

Trade closed: stop reached

⋅ Dec 6, 2017 3:48 AM

Comments

Scottnoveldex

⋅ Dec 6, 2017 4:01 AM

I had support at .7550 and resistance at .7645 so was not a valid trade for me due to my zone and risk/reward. I do see the valid TA though - interestingly NAB thought the AUD was going to be @ .75 start of 2018 from memory

JinDao_Tai

⋅ Dec 6, 2017 4:09 AM

@Scottnoveldex, thats awesome mate. exactly the purpose of these analysis, to trigger ideas, but still require your own analysis

Scottnoveldex

⋅ Dec 6, 2017 4:27 AM

@Jin_LCMSTraders, Was looking at taking short trade here at .7610 looking at the 4HR but was hesitant at the news releases and also was out at Rotto! Hindsight wonderful thing as trade would have approched risk amount to close the trade and I couldn't have monitored really but would be in the green now! Many more to come and always learning! Speak soon brother